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Optimisation


Definition:  
Optimisation involves modelling and narrowing down options to find the most effective solution when there are virtually endless feasible options.  Optimisation projects typically model a system at a more abstract level than is used in discrete event simulation.

About optimisation:
  • Generally, the optimisation model captures elements that most influence the way the system operates, but day to day variability is not included. 
  •  An optimisation model aims to optimise the overall performance of the system by determining the best combination of choices that will maximise the system profit function. 
  • One of the most powerful features of an optimisation model is its ability to consider hundreds of thousands of possibilities and determine the optimal decision in a very short period of time.
  • In the mining industry, optimisation modelling has been widely applied in long-term mine planning, particularly production scheduling problems and ultimate pit design. 
Unlike simulation, which takes a detailed, local view and makes decisions as the need arises, an optimisation model takes a more abstract, or global, view of the system to determine the best set of overall decisions to be made.

Find out more about the benefits of optimisation
Combining Optimisation and Simulation to Model a Supply Chain:
Publication
Publication

Combining Optimisation and Simulation to Model a Supply Chain

TSG Consulting have been successful in incorporating optimisation models that capture complex planning processes within DES models of export supply chains on a global scale for over a decade. Here we give an insight into one of our many success stories within this domain. This focus on the export supply chain of PT Kaltim Prima Coal (KPC) in Indonesia underlines the fundamental requirements for the successful implementation of this approach.

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